Small Range, 4 Ticks Excess at All Time High

Another small daily trading range to begin the week, just 7 points:

4 ticks of excess at all time high
4 ticks of excess at latest all time high. Will it hold?

Focusing on the 4 ticks of excess below the new all time high at 2557.75, and the close at 2556.25, if price can not remove the excess and continue its daily grind higher on Tuesday, the wide point of control at 2553.25 and prior recent daily lows could become the potential targets.

Poor lows on the Market Profile chart in need of repair are at 2550.25, 2546.00, 2542.75. Traders are still buying every break, so until any liquidation break or more serious selling comes in scare out any weaker hand longs and stop the one timeframing higher on the daily chart, volatility in the market remains absent.

Monday’s NYSE daily volume was very light at just 2.78 billion.




(the above post and all posts on es-traders.com is an interpretation of market generated information using the Market Profile, and the information contained within is to be used for informational purposes only and not to be construed as investment or trading advice. DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS WEBSITE. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the “SEC”) or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. Please read our disclaimer)

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Just a 5.25 Point Range at Latest All Time ES High. Poor High and Poor Low in Profile

 poor high and poor low at latest all time ES high.

Just over a 5 point balanced trading range on Friday after setting another new record high at 2555.50. A “look above and fail” scenario is possible with the poor structure below – 4 consecutive daily poor or weak lows.

Carrying the recent small ranges and poor market structure below price forward, the odds of a a liquidation break are increasing. But without the volatility trader have been buying every minor break.

Potental scenarios could include:

– Look above or below Friday’s range and either accelerate/find acceptance at higher or lower prices
– Look above or below balance and fail, targeting at least the opposite end of balance
– Remain balanced

(the above, post and all posts on es-traders.com, is an interpretation of market generated information using the Market Profile, and the information contained within is to be used for informational purposes only and not to be construed as investment or trading advice. DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS WEBSITE. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the “SEC”) or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. Please read our disclaimer)




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